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The Blurred Scope Of Non Horizontal Merger Control In Europe
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Book Synopsis The Blurred Scope of Non-Horizontal Merger Control in Europe by : Pierluigi Sabbatini
Download or read book The Blurred Scope of Non-Horizontal Merger Control in Europe written by Pierluigi Sabbatini and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 Non-Horizontal Merger Guidelines of the European Commission did not entirely succeed in supplying a plausible theory of harm regarding those mergers that cause competitive concerns, because of what could be optimistically considered only a misleading wording. This is mainly due to the use of the term “foreclosure” and to the reference to long-term profits which, it is said, could also provide incentives for foreclosing strategies. Because of this, it is not clear whether non-horizontal merger control has to prevent price increases due to short-term profit maximizing firms (as horizontal merger control does) or whether it must contrast exclusionary conduct, of the type examined in the assessment of abuses of dominance (under Art. 102 of the Treaties). We motivate our preference for the first alternative and, consequently, advocate the removal of the term “foreclosure” from the Non-Horizontal Merger Guidelines. Although the first implementation of the Guidelines by the Commission does not show relevant flaws, there is still the risk that the literal reading of the Guidelines could lead to a wrong merger control enforcement by European Competition Authorities. We also believe that, for the purpose of clarifying the appropriate scope of the assessment of a vertical merger, a more extensive employment of simulation techniques could be effective, as they clearly focus on short-term incentives to increase prices. We exemplify how to run such an exercise under different hypotheses.
Book Synopsis Merger Control in the EU and Turkey by : Fevzi Toksoy
Download or read book Merger Control in the EU and Turkey written by Fevzi Toksoy and published by Kluwer Law International B.V.. This book was released on 2022-05-11 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: As a country on the way to integration with the European Union (EU), Turkey has been following EU principles in establishing and improving its merger control regime, as well as overall competition law, keeping pace with changes in relevant EU legislation and case law. This book presents, for the first time, a description and analysis of the relationship between the EU and Turkish merger control law and practice. The second edition of the book considers the legislative changes that occurred in 2020-2021, including the reform of the Turkish Competition Law which introduced the significant impediment to effective competition (SIEC) test into the Turkish concentration control. The authors—all three, both practicing lawyers and academicians in Turkey—focus on comparing substantive, procedural and jurisdictional issues and draw parallels on their regulation in the two jurisdictions. These matters include the following: determining whether a transaction shall be regarded as a notifiable merger, hence be subject to control; financial thresholds used for allocating jurisdictions; extraterritoriality of merger control; relationship between the SIEC test and the dominance test; determination of the relevant market; techniques used for assessment of horizontal and non-horizontal mergers; notification requirements; procedural duties of competition authorities in relation to remedies; third-party rights; gun-jumping fines and other sanctions for failure to comply with merger control requirements; and peculiarities of assessment of mergers in the Big Data world. Each chapter provides an overview of the respective issues in the EU and Turkey, projecting a clear understanding of the main similarities and differences in the two regimes. A notable feature is an in-depth analysis of applicable case law concerning each issue, with most of the Turkish decisions available in English for the first time. The book’s comparative approach will prove to be of great value. With its clear answers to questions about what transactions are subject to merger control, what criteria are used in assessing those transactions, and the main issues that a foreign company should be aware of while merging with another foreign company with effect in Turkey and/or EU, the book will be of immeasurable value for lawyers and their business clients dealing with multijurisdictional merger cases. Interested academics and policymakers will also find much here to attract their attention.
Book Synopsis Does EU Merger Control Discriminate against Small Market Companies? by : Mika Oinonen
Download or read book Does EU Merger Control Discriminate against Small Market Companies? written by Mika Oinonen and published by Kluwer Law International B.V.. This book was released on 2010-07-20 with total page 448 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the question posed by the title of this book has generated considerable debate, the essential issue remains open and largely blurred. While some believe that there is no so-called ‘small market problem’, others discern discrimination against small market companies (i.e., companies with a strong position in their home markets but a modest position in the European and global markets) and a consequent need for changes in competition law. The author of this enormously helpful work here sets the stage for meaningful discussion by analysing the EC Merger Regulation’s objectives, economic foundations, and application practice to present a reasoned view of the issues that can be considered relevant for such a discussion. Considering their effect on the ’small market problem’, the author scrutinizes such factors as the following: the Commission’s methodology for delineating relevant markets in merger assessments; unnecessary prohibition caused by overestimation of the market power of small market mergers; erroneous approval of cases that should actually be prohibited; impact of the so-called ‘Harvard’ and ‘Chicago’ schools of competition theory and their key policy implications; process-related alternative views of competition and new synthesizing approaches; relevant criteria for a proper analysis of market power; concentration measures and market shares; barriers to entry; price and profitability analyses; and product definition v. geographic definition of markets. In a final chapter, the author presents some tentative conclusions, normative in nature, concerning the problem and the relevant issues relating to it. As the first in-depth analysis of the issues that are actually involved – with its particular diagnosis of the assessment of market power in considering the relevant issues for the problem – this study brings into salience the terms of the debate on the ‘problem’, and thus takes a giant step forward towards defining what needs to be done. Competition lawyers, policymakers, and academics in Europe and elsewhere will find the discussion of great value.
Book Synopsis The EU Merger Regulation by : Alistair Lindsay
Download or read book The EU Merger Regulation written by Alistair Lindsay and published by Sweet & Maxwell. This book was released on 2012 with total page 849 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the 4th edition of The EC Merger Regulation - a detailed guide to the method of merger control in the European Union. Fully revised for 2012, this comprehensive text describes how the European Commission determines approval of a notified merger, thereby providing information and techniques to complete merger deals successfully for companies operating in the European Union
Book Synopsis The Economic Assessment of Mergers Under European Competition Law by : Daniel Gore
Download or read book The Economic Assessment of Mergers Under European Competition Law written by Daniel Gore and published by Cambridge University Press. This book was released on 2013-04-25 with total page 559 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a clear, concise and practical overview of the key economic techniques and evidence employed in European merger control.
Book Synopsis Law and Economics in European Merger Control by : Ulrich Schwalbe
Download or read book Law and Economics in European Merger Control written by Ulrich Schwalbe and published by Oxford University Press. This book was released on 2009-10 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: Co-written by an expert lawyer and economist, this book provides a thorough guide to the economic theory behind the regulation of mergers. The economic theory is then used to analyse the current state of European competition law, and test the success of the European Commission's search for a 'more economic approach' to merger regulation.
Book Synopsis European Merger Control by : Catalin Stefan Rusu
Download or read book European Merger Control written by Catalin Stefan Rusu and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty years of experience have inevitably brought to light challenges and tensions in the enforcement of the European merger control system. Some of these challenges have been faced, some have been solved and some remain latent. This very valuable study starts from the proposition that the EU has never fully acknowledged those fundamental challenges which relate to the rationale behind merger control in Europe. The author shows how the Commission's focus on adapting the rules of merger control to the economic realities of the future business environment, although designed with a view to facilitating European integration, has compromised attainment of legal certainty, transparency and welfare enhancement. In its detailed evaluation of the 'future market structure prediction process' embedded in European merger control policy, this book approaches two rock-bottom, far-reaching questions: In what ways does merger control promote consumer and societal welfare? Is the Commission able to correctly predict the outcome of any given concentration transaction? These considerations take the reader through a deep and searching analysis that calls into question the very credibility and transparency of the system, leading to alternatives which promise a new clarity of purpose and procedure. The author describes how these recommendations can be integrated into the functioning framework of the European project. Taken fully into account along the way is a wide spectrum of relevant source material, including the following: applicable articles and chapters of the founding and subsequent European Treaties; secondary European legislation concerning competition and merger activity; domestic competition laws; guidelines, notices and action plans; competition law reviews, statements of intentions; draft legislative attempts; speeches on the enactment and purpose of merger control; Member States' views concerning European merger control as expressed during Council negotiations; officially available concentration-related statistics; and a wide-ranging literature review covering both the legal and economic sides of merger control. Throughout, the author substantiates theoretical assertions with case law examples, clearly exposing doctrines arising from such cases as Continental Can, Phillip Morris/Rothmans and the Airtours, Schneider and Tetra Laval trilogy. A unique feature of the analysis draws on the author's personal experience while working for a Brussels competition law firm. This book is a remarkable compound of academic guide to the roots and rationales of the European Merger Control System, practical guide to the day-to-day intricacies of merger control enforcement, and 'raw' guide for decision makers and merger control law enforcers. It will be of immense value in all three contexts.
Book Synopsis The Shaping of EU Competition Law by : Pablo Ibáñez Colomo
Download or read book The Shaping of EU Competition Law written by Pablo Ibáñez Colomo and published by Cambridge University Press. This book was released on 2018-07-12 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A ground breaking study of how the interaction between the European Commission and the EU Courts has shaped EU competition law.
Book Synopsis The European Commission's Jurisdiction to Scrutinise Mergers by : Morten Broberg
Download or read book The European Commission's Jurisdiction to Scrutinise Mergers written by Morten Broberg and published by Springer. This book was released on 1998-04-15 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: No major business or law firm can afford to disregard the European Commission's power in the control of mergers. Since the Council of Ministers adopted the EC Merger Regulation in 1989, The power of the European Commission has increased steadily. The scope of the Merger Regulation now occupies a central role in many mergers taking place both inside and outside the European Community. To come within the scope of merger regulation and thus within the Commission's jurisdiction, a merger must possess a `community dimension'. Despite the careful definition of this term in the Merger Regulation itself, The concept has created problems in many cases. The European Commission's Jurisdiction to Scrutinise Mergers offers a comprehensive, up-to-date analysis of all aspects of the community dimension concept. The most thorough examination of the Commission's jurisdiction to examine mergers under the EC Merger Regulation, The European Commission's Jurisdiction to Scrutinise Mergers serves as a valuable guide for businesses, their legal advisors, and competition law enforcers in both the Commission And The Member States.
Book Synopsis The European Union's Policy Towards Non-horizontal Mergers by : Kovács Kristóf
Download or read book The European Union's Policy Towards Non-horizontal Mergers written by Kovács Kristóf and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Directory of EU Case Law on Merger Control by : Steven Noë
Download or read book Directory of EU Case Law on Merger Control written by Steven Noë and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lists of Cases --General --The Scope of Application of the Merger Regulation --General Principles for the Appraisal of Concentrations under Article 2 --Anticompetitive Effects of Concentrations: Non-coordinated Effects --Anticompetitive Effects of Concentrations: Coordinated Effects --Countervailing Factors --Commitments --Procedure before the Commission --The Duty to State Reasons in the Decision --Action for Annulment --Action for Damages --Specific Procedural Issues in Court Proceedings --Results of Court Actions.
Book Synopsis Research Handbook on Global Merger Control by : Ioannis Kokkoris
Download or read book Research Handbook on Global Merger Control written by Ioannis Kokkoris and published by Edward Elgar Publishing. This book was released on 2023-05-09 with total page 685 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past 30 years, merger control has become well-established around the world with broad consensus around its ambit and objectives. That consensus has fractured in recent years. Enforcement today is at a critical juncture, facing an array of challenges and calls for reform unprecedented in their scope and intensity. Authored by leading legal practitioners, economists, enforcers and jurists, this timely Research Handbook on Global Merger Control discusses those challenges and predicts how merger control is likely to evolve.
Book Synopsis Merger Control in the European Union and the United States by : Mats Bergman
Download or read book Merger Control in the European Union and the United States written by Mats Bergman and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a combination of public and internal information, this paper compares and contrasts EU and US merger policies. Common economics seems to lead both authorities to consider remarkably comparable portfolios of mergers once the nominal differences in the regimes (US reviews more cases) are addressed. Vertical mergers account for less than ten percent and potential competition matters for around five percent of all mergers in both jurisdictions, while purely conglomerate mergers are extremely rare or non-existent. The share of collusion investigations fall over time in both jurisdictions. However, the US relies on collusion theory more than three times as often as the EU, where 85 percent of the horizontal cases concern dominance. Across both regimes, roughly one eighth of all recent horizontal mergers have been analyzed as non-dominance unilateral-effects cases. Only minor differences in the average probability of challenge are observed when controlling for market share. We also find that the EU is more prone to accept (or require) weak remedies and much less likely to consider efficiencies. The 2004 EU reforms seem to be leading towards at least some convergence on enforcement policy.
Book Synopsis Does EU Merger Control Discriminate Against Small Market Companies? by : Mika Oinonen
Download or read book Does EU Merger Control Discriminate Against Small Market Companies? written by Mika Oinonen and published by Kluwer Law International B.V.. This book was released on 2010-01-01 with total page 450 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although the question posed by the title of this book has generated considerable debate, the essential issue remains open and largely blurred. While some believe that there is no so-called 'small market problem', others discern discrimination against small market companies (i.e., companies with a strong position in their home markets but a modest position in the European and global markets) and a consequent need for changes in competition law. The author of this enormously helpful work here sets the stage for meaningful discussion by analysing the EC Merger Regulation's objectives, economic foundations, and application practice to present a reasoned view of the issues that can be considered relevant for such a discussion. Considering their effect on the 'small market problem', the author scrutinizes such factors as the following: the Commission's methodology for delineating relevant markets in merger assessments; unnecessary prohibition caused by overestimation of the market power of small market mergers; erroneous approval of cases that should actually be prohibited; impact of the so-called 'Harvard' and 'Chicago' schools of competition theory and their key policy implications; process-related alternative views of competition and new synthesizing approaches; relevant criteria for a proper analysis of market power; concentration measures and market shares; barriers to entry; price and profitability analyses; and product definition v. geographic definition of markets. In a final chapter, the author presents some tentative conclusions, normative in nature, concerning the problem and the relevant issues relating to it. As the first in-depth analysis of the issues that are actually involved - with its particular diagnosis of the assessment of market power in considering the relevant issues for the problem - this study brings into salience the terms of the debate on the 'problem', and thus takes a giant step forward towards defining what needs to be done. Competition lawyers, policymakers, and academics in Europe and elsewhere will find the discussion of great value.
Book Synopsis Digital Conglomerates and EU Merger Control - Analysis of the Leverage Theory of Harm by : Manav Chadha
Download or read book Digital Conglomerates and EU Merger Control - Analysis of the Leverage Theory of Harm written by Manav Chadha and published by . This book was released on 2020 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central theme of this thesis is the treatment of conglomerate mergers under EU merger control, with particular reference to conglomerates in the digital markets. In particular, this thesis analyses the effects of leverage theory of harm in the traditional and the digital markets. Given that background, the author discusses whether the positive prior treatment afforded to conglomerate mergers in traditional markets should also be extended to digital conglomerates. Additionally, it evaluates whether the current EU merger control framework is equipped to examine the effects of conglomerate mergers in digital markets. For that purpose, the provisions under non-horizontal merger guidelines and Commission's jurisprudence to establish the conditions necessary for prohibiting conglomerate mergers on grounds of foreclosure through leverage of market power are examined. Thereafter, such conditions are applied in the context of digital markets to determine the sufficiency of the current legal framework. In doing so, this thesis focuses on certain characteristics of digital markets such as presence of economies of scope and network effects to show that the competitive effects of leveraging strategy are amplified in such markets. In conclusion, it has to be claimed that certain changes are required to the methodologies and framework under EU merger control to appropriately deal with the amplified effects of conglomerates mergers and with dynamic challenges posed by innovation in the digital markets.
Book Synopsis EU Law by : Paul|Burca Craig (Grainne de)
Download or read book EU Law written by Paul|Burca Craig (Grainne de) and published by Oxford University Press. This book was released on 2024 with total page 1387 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EU Law written by Paul Craig and published by . This book was released on 2020-07-21 with total page 1344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Respected as the definitive textbook on the subject, this is the stand-alone guide to EU law. The world-renowned authors offer the ideal balance of commentary, key cases, and materials to provide the most authoritative coverage and analysis.
